American Express calls on consumers to Shop Small and Share Joy
by posting shout outs of their favorite small businesses on social
media throughout the holiday season
This holiday season, American Express (NYSE: AXP) is kicking off
its 11th annual Small Business Saturday with a social media
campaign that can help amplify the positive impact that U.S.
consumers can have on small businesses. According to the American
Express Shop Small Impact study, released today, the majority of
(78%) small business owners say that positive feedback on social
media is a significant driver of business. In fact, the study found
that endorsements of small businesses on social media may be worth
as much as an estimated $197 billion for the U.S. small business
economy1. Beyond that perceived value, positive social media
mentions can go even further this year, as 89% of consumers say
they are more likely to shop at a small business that friends or
peers have recommended.
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This year’s Small Business Saturday, which will take place on
November 28 during Thanksgiving weekend, is an important part of
the holiday season for small merchants as they work to recover from
the economic impact of the COVID-19 pandemic. In 2019, an estimated
110 million people participated in Small Business Saturday, and
sales hit a record high with an estimated $19.6 billion in reported
spending2. Initially founded in 2010 by American Express in
response to the Great Recession, Small Business Saturday has
evolved into a year-round global Shop Small campaign to support
small merchants, and earlier this year, American Express helped
jumpstart spending at small businesses by committing more than $200
million through the company’s largest ever global Shop Small
campaign3.
“Small Business Saturday is an important part of our global Shop
Small campaign, and small businesses need our support more than
ever as they continue to navigate the effects of COVID-19,” said
Elizabeth Rutledge, Chief Marketing Officer, American Express. “We
know 88% of U.S. consumers feel a personal commitment to support
small businesses in the wake of the pandemic. Whether online,
curbside or safely in store, we’re reminding consumers that they
can help make an impact by shopping small and sharing their
favorite small businesses on social media all holiday season
long.”
To mobilize the power of social media heading into this year’s
Small Business Saturday and all holiday season long, American
Express invites consumers to Shop Small at their favorite small
merchants – both in-store and online – and share their support on
social media. Simply tag the small merchants that you shop at on
social media and share what you love about them – from a favorite
product to the great service they provide – it can really go a long
way to support a small business this holiday season.
U.S. CONSUMERS: ENTHUSIASTIC TO SHOP SMALL
Fortunately, shoppers want to do their part to support small
businesses this holiday season – 75% will Shop Small because they
want to support their favorite local shops and restaurants during
this challenging time, and 42% said they supported a small business
on social media. The study also reveals that the effects of
COVID-19 have sparked feelings of deep responsibility among
consumers to support the places they love this Small Business
Saturday and beyond. A large majority of consumers (88%) feel a
personal commitment to support small businesses in the wake of the
pandemic and in a divided year, 95% of Americans agree that
supporting small businesses unites their community.
“Small businesses connect our communities, you get to know the
owner and your neighbors who come in every morning for their coffee
fix,” said Mike Salvatore, Owner, Heritage Bicycle & Coffee in
Chicago, IL. “If they then recommend us to 100 of their friends
their word, their value, their review, will go so much farther and
will mean that much more to potential customers.”
SMALL BUSINESSES: OPTIMISTIC & INNOVATING
Almost all (92%) of small business owners have pivoted the way
they do business to stay open during the pandemic including selling
on social (38%) or a third-party platform (28%), introducing
curbside pickup (46%) or contactless delivery (40%).
Now, as the biggest shopping season of the year approaches, 46%
of small business owners are counting on above average holiday
sales to stay in business in 2021. Sixty-four percent have a
positive outlook for their holiday sales and say that Small
Business Saturday is more critical than ever. As a result they are
innovating by offering extended store hours (41%), using social
media as a storefront for the first time (25%), partnering with
other businesses in their community to offer something special to
customers (25%) and offering giveaways to customers (35%).
“We've tried so many different ways to keep engaged and in touch
with our customers,” said Ann Cantrell, Owner, Annie’s Blue Ribbon
General Store in Brooklyn, N.Y. “We've done Instagram Live events,
reached out through social media and conducted some virtual
shopping appointments over the phone. All of those pivots allowed
us to stay connected to our customers during a difficult time which
is so important to us.”
BACKING SMALL BUSINESSES ALL-YEAR LONG
Recognizing the devastating effects of COVID-19 on small
businesses, American Express has made several commitments to help
small businesses:
- Committed more than $200M to jumpstart spending at small
businesses through the company’s largest ever global Shop Small
campaign.
- Created Stand for Small, a coalition of more than 100 large
companies that provide tools, resources and advice to support small
businesses.
- Launched the Coalition to Back Black Businesses, which includes
a $10 million commitment in grants and mentorship for U.S.
Black-owned small businesses.
- Pledged to double its spend with minority-owned suppliers in
the U.S. to $750 million annually by the end of 2024.
- Committed to providing access to capital and financial
education to at least 250,000 Black-owned small and medium-sized
businesses in the U.S.
- Launched a small business Services and Savings Hub and
delivered COVID-19 recovery kits to merchants with “open for
business” signage and collateral for in-store safety.
More information about these and other efforts can be found
here. Visit Shopsmall.com to learn more about how to help support
small businesses this holiday season.
ABOUT AMERICAN EXPRESS
American Express is a globally integrated payments company,
providing customers with access to products, insights and
experiences that enrich lives and build business success. Learn
more at americanexpress.com and connect with us on
facebook.com/americanexpress, instagram.com/americanexpress,
linkedin.com/company/american-express, twitter.com/americanexpress,
and youtube.com/americanexpress.
Key links to products, services and corporate responsibility
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services, gift cards, prepaid cards, merchant services, Accertify,
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responsibility.
ABOUT SMALL BUSINESS SATURDAY
November 28th is the annual Small Business Saturday, proudly
backed by American Express. Dedicated to supporting the diverse
range of local businesses that create jobs, help boost the economy,
and enhance neighborhoods around the country, Small Business
Saturday was created by American Express in 2010 in response to
small business owners’ most pressing need: getting more customers.
Learn more at and connect with us on ShopSmall.com,
instagram.com/shopsmall, facebook.com/SmallBusinessSaturday.
ABOUT SHOP SMALL
Shop Small is an international movement to support small,
independent businesses and call attention to the valuable and
distinct contributions they make to their communities and the
economy. Shop Small celebrates small businesses ranging from retail
stores and restaurants to fitness studios and salons, and
everything in between. The Shop Small movement was spurred by the
widespread participation in Small Business Saturday, a day founded
in 2010 by American Express in the U.S. This national holiday
shopping tradition is dedicated to celebrating small businesses and
driving more customers through their doors on the Saturday after
Thanksgiving. Learn more and connect with us on ShopSmall.com,
instagram.com/shopsmall, facebook.com/SmallBusinessSaturday.
ABOUT THE AMERICAN EXPRESS SHOP SMALL IMPACT STUDY
The American Express Shop Small Impact Study was conducted by
Teneo on behalf of American Express. The study consisted of three
online surveys conducted between October 23 and November 8, 2020.
The first survey was conducted among a sample of 1,004 U.S. adults
18 years of age and older. Consumer data was weighted by five
variables: age, gender, geographic region, race/ethnicity and
education to ensure reliable and accurate representation of the
total U.S. population, 18 years of age and older based on U.S.
Census data. Two surveys were conducted among small business
owners/managers in U.S. with companies that conduct sales at a
brick-and-mortar location in one of the following industries:
arts/entertainment/recreation, retail trade, restaurant/bar/coffee
shop/hotel/hospitality, or personal services. One survey had a
sample size of 501, the other had a sample size of 503.
1 Based on an average of the estimated percent of revenue
generated by positive feedback on social media as reported by small
business owners surveyed in the 2020 American Express Shop Small
Impact Study and extrapolated based on the overall economic impact
of U.S. consumer-facing small business as reported in the 2018
American Express Small Business Economic Impact study. 2 The 2019
Small Business Saturday Consumer Insights Survey was conducted by
Teneo on behalf of American Express and the National Federation of
Independent Business (NFIB). The study is a nationally
representative sample of 2,287 U.S. adults 18 years of age or
older. The sample was collected using an email invitation and an
online survey. The study gathered self-reported data and does not
reflect actual receipts or sales. It was conducted anonymously on
December 1, 2019. The survey has an overall margin of error of +/-
2.0%, at the 95% level of confidence. Projections were based on the
current U.S. Census estimates of the U.S. adult population, age 18
years and over. 3 Our commitment of more than $200M supported a
Card Member offer and the associated marketing campaign to
encourage American Express Card Members in select countries around
the globe to Shop Small in their local communities and online.
Location: U.S.
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version on businesswire.com: https://www.businesswire.com/news/home/20201117005491/en/
AMERICAN EXPRESS Megan Hunsicker megan.c.hunsicker@aexp.com
DAY ONE AGENCY Keri Fitzpatrick keri@d1a.com
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